Secure Storage
Through our network of more than 100 reputable suppliers, RLS offers fully secured, gated, and indoor options at competitive Fair Value daily storage rates. All storage arrangements are designed to facilitate intermediary storage, cooperative and friendly customer redemption, and personal property pick-ups. All storage facilities are equipt with standard security measures.
Our commitment to innovation
We continue to have a successful impact on the industry from the inside. Our leadership team are innovators in the industry. In the recent years we have contributed to effectively changing the definition of fair value storage in Ontario. Approximately three years ago, the creation of a Fair Value Committee was started; An ad-hoc multi stakeholder representative group, to address those sections of the Repair and Storage Liens Act (“RSLA”) which directly and indirectly impact stakeholders in a number of sectors, including the insolvency community, secured creditors and leasing industry.
The two main areas of concern for the committee were the pricing of daily vehicle storage, and the required number of days’ notice to be given to secured creditors and leasing companies in vehicle and asset storage situations. Prior to the change, a vehicle storage facility was permitted to charge a daily rate of its own choosing, and was not required to notify vehicle owners or secured creditors of possession until 60 days had elapsed, essentially permitting an unscrupulous vehicle storage facility to charge two months of exorbitant fees in the absence of a payment agreement.
As a result of our leadership’s exceptional efforts at facilitating reform, and due to unprecedented industry support for these consumer protective objectives, new Regulations under the RSLA went info effect July 1st, 2016.
Ontario Regulation 427/15 includes a few game-changing provisions, including:
1. Reduction of the storage notice period from 60 days to 15 days; and
2. The introduction of a new disclosure requirement and rate determination methodology for justifying storers’ posted daily vehicle storage rates
If you have an asset in storage and require a professional service tailored toward maximizing return, we can help!